By Geralyn Edward, Business Editor | Tue, June 19, 2012 - 12:05 AM
The independent auditor for Almond Resorts Inc., (ARI) has refused to offer an opinion on that company’s 2011 consolidated financial statements.
PricewaterhouseCoopers (PwC), in its June 1 independent auditor’s report on the hotel group’s financial position, said it could not obtain “sufficient appropriate audit evidence to provide a basis for an audit opinion”.
The development comes as the local all-inclusive hotel group seeks buyers for its three hotels here, one of which – Almond Beach Village, St Peter – was closed last April because of mounting debt and a rundown plant.
The accounting firm, which was hired by Almond to audit its financial statements, said in the just released 2011 annual report: “Because of the significance of the matters described in the basis for disclaimer of opinion paragraph, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion.”
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